Sun Life Financial Inc.’s Canadian Group Retirement Services business has landed the administration of the capital accumulation plans for Canadian-based employees of Falconbridge Ltd.

The agreement, effective November 30, covers 2,500 Falconbridge employees in Toronto, Sudbury and Timmins, Ontario and Raglan, Quebec.

The plans represent over $280 million in assets under administration for Sun Life, which is a leading supplier of pension plan services in Canada. GRS has over $25 billion of assets under administration, and serves one out of every three major employers in the country.

“We are very pleased to have been selected by Falconbridge, one of Canada’s leading base metals producers, to administer these important investment and savings plans on behalf of its employees,” said Kevin Dougherty, vice president, group retirement services.

http://www.newswire.ca/releases/October2003/02/c7310.html